The DAX 40 finished Monday’s volatile session down about 0.2% at 24,626, extending the previous week’s losses amid continued caution over Middle East developments. After several days of missile and drone attacks near the Strait of Hormuz, the US and Iran have reportedly agreed to pause strikes, although disagreements remain over the resumption of talks in Qatar this week.
At the same time, investors positioned themselves for a busy week of economic data, with inflation in particular focus, and for the opening of the ECB’s Sintra Forum, where Federal Reserve Chair Kevin Warsh and ECB President Christine Lagarde are slated to speak.
On the corporate front, Heidelberg Materials was the session’s biggest loser, sinking 9.1% after several analyst firms cut their Q2 revenue forecasts for the building materials group. Deutsche Post fell 5% amid reports that CEO Tim Höttges is accelerating plans to merge Telekom and T-Mobile more quickly than previously anticipated. Auto stocks also came under pressure, while defense contractors such as Rheinmetall (up 3%) and Hensoldt (up 4.2%) outperformed.
